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OIB Trade Alert: AMD, CVS, INTC

Let’s book profits on our Advanced Micro Devices (AMD) put and roll our CVS Health (CVS) and Intel (INTC) positions for more cash.

AMD Nov Week One (11/6) 75 Put

Current Stock Price: $83.05

Cash in Hand: $1.76

Action: Buy to close the AMD Nov Week One (11/6) 75 Put

Current Option Price: $0.02-$0.03

Recommended Limit: Set initial limit order at $0.02, but adjust as needed to close today

Profit: $1.74, or $174 per contract

Rate of Return: 2.3% in 10 days, or 85% on an annualized basis

CVS Nov Week One (11/6) 60 Call

Current Stock Price: $61.96

Cost Basis: $61.57

Action:

  • Buy to close the CVS Nov Week One (11/6) 60 Call for around $2.48
  • Sell to open the CVS Nov Monthly (11/20) 60 Call for around $2.95
  • Set your initial credit limit at $0.47, but adjust as needed to roll today

New Cost Basis: $61.10

Expiration: After the close on Friday, Nov. 20

Potential Rate of Return: I am targeting breakeven for this position

INTC Nov Week One (11/6) 45 Put

Current Stock Price: $45.96

Net Debit: $6.71

Action:

  • Buy to close the INTC Nov Week One (11/6) 45 Put for around $0.14
  • Sell to open the INTC Nov Week Two (11/13) 45 Put for around $0.49
  • Set your initial credit limit at $0.35, but adjust as needed to roll today

New Net Debit: $6.36

Expiration: After the close on Friday, Nov. 13

Potential Rate of Return: I am targeting breakeven for this position

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